Invesco Ltd. Has $217.20 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Invesco Ltd. boosted its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,789,258 shares of the company's stock after buying an additional 152,622 shares during the quarter. Invesco Ltd. owned approximately 1.84% of Molson Coors Beverage worth $217,200,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TAP. Pallas Capital Advisors LLC lifted its holdings in Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock valued at $975,000 after purchasing an additional 199 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock worth $168,000 after acquiring an additional 202 shares in the last quarter. Truvestments Capital LLC increased its holdings in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. SRS Capital Advisors Inc. raised its position in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after purchasing an additional 203 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Molson Coors Beverage by 21.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock worth $71,000 after purchasing an additional 218 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 1.3 %

Shares of TAP traded up $0.75 on Thursday, hitting $59.46. The company's stock had a trading volume of 471,701 shares, compared to its average volume of 2,075,845. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.52 and a beta of 0.69. The firm's fifty day moving average price is $59.82 and its 200-day moving average price is $58.20. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $65.24.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, equities research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.16%. Molson Coors Beverage's dividend payout ratio is presently 35.14%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TAP. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Morgan Stanley lifted their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. UBS Group lifted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, Barclays lowered their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $64.39.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.